Short Interest in SiteOne Landscape Supply, Inc. (NYSE:SITE) Expands By 16.4%

SiteOne Landscape Supply, Inc. (NYSE:SITE) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 2,340,000 shares, a growth of 16.4% from the February 13th total of 2,010,000 shares. Based on an average trading volume of 376,300 shares, the short-interest ratio is currently 6.2 days. Currently, 5.3% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research firms have commented on SITE. UBS Group reduced their price objective on SiteOne Landscape Supply from $185.00 to $182.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus restated a “hold” rating and set a $140.00 price objective (down from $145.00) on shares of SiteOne Landscape Supply in a report on Monday, February 10th. StockNews.com upgraded SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Sunday, March 16th. Royal Bank of Canada raised their price objective on SiteOne Landscape Supply from $129.00 to $136.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Finally, Robert W. Baird reduced their price objective on SiteOne Landscape Supply from $183.00 to $175.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $154.56.

SiteOne Landscape Supply Stock Down 0.5 %

Shares of SiteOne Landscape Supply stock opened at $122.00 on Friday. SiteOne Landscape Supply has a 52-week low of $114.60 and a 52-week high of $188.01. The firm’s 50 day moving average price is $134.49 and its 200-day moving average price is $139.95. The company has a quick ratio of 1.16, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. The company has a market cap of $5.49 billion, a P/E ratio of 45.35 and a beta of 1.69.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, February 12th. The industrial products company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.22). SiteOne Landscape Supply had a net margin of 2.72% and a return on equity of 7.93%. On average, sell-side analysts predict that SiteOne Landscape Supply will post 3.61 EPS for the current fiscal year.

Institutional Investors Weigh In On SiteOne Landscape Supply

Several institutional investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new stake in SiteOne Landscape Supply in the fourth quarter valued at approximately $233,000. Castlekeep Investment Advisors LLC acquired a new stake in shares of SiteOne Landscape Supply during the fourth quarter worth $608,000. Public Employees Retirement System of Ohio lifted its stake in shares of SiteOne Landscape Supply by 10.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 52,847 shares of the industrial products company’s stock worth $6,964,000 after buying an additional 4,878 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of SiteOne Landscape Supply by 9.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 153,907 shares of the industrial products company’s stock worth $20,280,000 after buying an additional 13,374 shares during the period. Finally, Voloridge Investment Management LLC lifted its stake in shares of SiteOne Landscape Supply by 55.7% during the fourth quarter. Voloridge Investment Management LLC now owns 135,194 shares of the industrial products company’s stock worth $17,815,000 after buying an additional 48,347 shares during the period.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.